“I would like to thank the Port Vale supporters, once again, for their ongoing patience and support. It has been a long process but we are delighted to have finally taken over the Club and look forward to a long and successful association."

“As I have previously stated, our intention is to develop the club both on and off the field. On the pitch we’re continuing to support Micky and the squad as they push for promotion. Off the pitch we have made some key appointments to ensure the immediate and ongoing success of the Club."

More time is to be given to Port Vale Football Club to allow further bids from interested parties to buy the League Two Club.A full meeting of Stoke-on-Trent City Council took place this afternoon to discuss an update on the future of the club.

The team entered into administration in March, and the council is the club's biggest creditor.